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[ Post UTME Begins ]:
View The List Of Schools That Have Released 2026 Post-UTME Forms.
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Commerce Past Questions
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Introduction to Commerce
Meaning, scope, characteristics and functions of Commerce
History of Commerce
Relationship of Commerce with other areas of production
Importance of Commerce in the economy
Occupations
Meaning and Importance
Types of occupations: Industrial, commercial, direct and indirect services
Factors influencing choice of occupation
Production
Meaning and types: Primary, secondary, tertiary
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Division of labour and specialization
Inter-relationship between production and exchange
Business Units
Meaning and objectives of business
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Characteristics, formation, advantages and disadvantages
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Choice of business units
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Sources of finance
Problems of sourcing finance
Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
Chambers of Commerce
Employers’, Consumers’ and Manufacturers’ associations
Economic groups: ECOWAS, IMF, IBRD, UNCTAD, etc.
Trade - Home Trade
Retail trade: Types, functions, advantages and disadvantages, trends
Wholesale trade: Types, functions
Warehousing: Types, functions
Channels of distribution
Trade - Foreign Trade
Balance of trade/payment, terms of trade
Export, import and entrepôt procedures and documents
Barriers to international trade
Roles of Customs, Excise, Ports Authority
Purchase and Sale of Goods
Documents: Enquiry, quotation, invoice, bill of lading, etc.
Terms of trade: Discounts, C.O.D., C.I.F., F.O.B.
Means and terms of payment
Aids to Trade
Advertising
Banking
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Finance and Financial Institutions
Money
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Credit unions and thrift societies
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Meaning, importance and functions
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Market segmentation
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Personal selling
Legal Aspects of Business
Simple contract
Agency, Sale of Goods Act, Hire Purchase Act
Employer/employee rights
Government regulations
Consumer protection
ICT in Commerce
Computer applications
ICT terms
E-commerce, E-banking, E-business
Business Environment and Social Responsibility
Types of environment
Safe products and pollution
Corporate social responsibility
Nationalisation, Indigenisation and Divestiture
Meaning, aims, advantages, disadvantages
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1986
The management of a company with a view to ending its operation is known as
A.
low gearing
B.
high gearing
C.
liquidation
D.
horizontal integration
E.
vertical integration
View Answer & Discuss
WAEC 1998
1987
Any action taken by a company outside its stated objectives is regarded as
A.
caveat emptor
B.
ultra vires
C.
uberrimae fidei
D.
exemption
E.
formality
View Answer & Discuss
WAEC 1998
1988
Measuring performance against the set objectives is a management function that relates to
A.
staffing
B.
planning
C.
organizing
D.
motivating
E.
controlling
View Answer & Discuss
WAEC 1998
1989
The setting of objectives and determination of the best way to achieve them are known as
A.
coordinating
B.
planning
C.
organizing
D.
motivating
E.
controlling
View Answer & Discuss
WAEC 1998
1990
When a company sells its shares to an issuing house which later sells to the public, it is called
A.
an offer for sale
B.
a rights issue
C.
a public issue
D.
an issue by prospectus
E.
a private placing
View Answer & Discuss
WAEC 1998
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